The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Life Insurance Corporation of India
HEROMOTOCO · price
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Life Insurance Corporation of India (LIC) has disclosed a sale of 4,011,383 equity shares (2.005%) of Hero MotoCorp Ltd through open market transactions between July 1, 2024 and May 27, 2026. Prior to this sale, LIC held 14,292,097 shares representing 7.143% of the company's voting capital. After the sale, LIC's holding reduced to 10,280,714 shares (5.138%). The total voting capital of Hero MotoCorp remained unchanged at 400,185,876 shares. LIC is not a promoter or person acting in concert with any promoter group of the company.
LIC's reduction of stake by over 2 percentage points signals a significant exit by one of the largest institutional investors in the company. While remaining above the 5% threshold which triggers regulatory disclosure, this substantial sale could signal LIC's reduced confidence in the stock or a portfolio rebalancing exercise.